San Ramon Real Estate 2012 Activity

San Ramon Home Sales Activity for the month of December 2012

• 45 closed sales in December - versus 54 closed sales in November
• Average sales price $752,248 compared with November average sales price of $779,150
• 30 homes listed in December as compared to November of 54 homes
• Average sales prices are 99.5% of the list price

Summary of Home Sales for all of 2012 compared to 2011:

2011 2012 % Change New Listings 993 770 -22% Closed Sales 679 715 +25% Average Sales Price $727,331 $746,408 +2% High Sales Price $2,800,000 $1,850,000 Low Sales Price $265,000 $310,000 Average Days on Market 44 31 -30%

San Ramon Homes Sold 2012 by Zip Code

94582 94583 # Units Sold 373 342 Average Sales Price         $815,381 $670,719 Median Sales Price $793,000 $626,250 High $1,470,000     $1,850,000     Low $407,000 $310,000

Number of new listings were down significantly compared to 2011 yet unit sales were up 25% in 2012, which makes sense due to buyer demand and properties selling in an average of 30 days. For 2012 San Ramon single family detached home prices were up 2%.

The $600,000 to $799,000 price range accounted for 42% of all sales combined as prices started moving up during the year.

It is interesting to note that 2011 showed the most decline in average sales prices, mostly attributed to 34% of homes sold were distressed - either a short sale or bank owned property. Based on an average appreciation of 3%-4% (which is predicted), we should be back to the 2008 level within 2-3 years.

The year saw a turn in the market to become a sellers market due to a low inventory of properties for sale. We are also seeing multiple bids on properties priced well and in good condition.

For those who have been contemplating the idea of selling, 2013 might be the year as interest rates are still low and there is a pent up demand of buyers waiting to make a home purchase in San Ramon.